Brenmiller Energy Ltd · NASDAQ:BNRG
Brenmiller Energy — Investor Presentation (March 2024)
25 slides from Brenmiller Energy's investor presentation, Mar 6, 2024
Slide 1: Brenmiller Thermal Energy Storage Company Presentation March 2024
a)\ BRENMILLER THERMAL ENERGY STORAGE Company Presentation March 2024 Nasdaq: BNRG = -+
Slide 2: Disclaimer
2 Nasdaq: BNRG Disclaimer This presentation of Brenmiller Energy Ltd. (the “ Company ” , “ Brenmiller ” or “ Brenmiller Energy ” ), the oral presentation of the information contained in this presentation and any question and answer session that may follow contain “ forward - looking statements ” wit
Slide 3: About Brenmiller Energy Ltd.
3 Nasdaq: BNRG ABOUT Brenmiller Energy Ltd. Nasdaq listed: BNRG Employees As of March 2024 52 Founded Capital Investments since inception 2012 $ 100 M We are a clean - tech company that develops, manufactures and sells our Thermal Energy Storage ( “ TES ” ) solutions to decarbonize heat for industry
Slide 4: Brenmiller Milestones
4 Nasdaq: BNRG FOUNDED Product development Full scale demonstration Manufacturing plant IPO TEL AVIV Pilot and marketing agreement with NYPA First U. S. patent granted First commercial pilot Corporate finance for manufacturing enhancement First power plant pilot purchase order Purchase agreement wit
Slide 5: Strategic Outlook
5 Nasdaq: BNRG BY AVI BRENMILLER, CEO & CHAIRMAN ▪ We entered our first year of commercial sales signing first 2 milestone projects, we expect at least 2 additional projects to be signed in 2024 ▪ Our goal is to rapidly ramp revenues ▪ Our current focus is small - medium sized electricity - to - hea
Slide 6: Latest Updates
6 Nasdaq: BNRG Latest Updates ▪ 2024 Bloomberg NEF Pioneers finalist ▪ SUNY project handover in New York ▪ Wolfson Hospital to purchase a 12 MWh TES system for $ 3.55 m ▪ $ 4 m equity raise completed in January 2024 ▪ $ 450 K grant from Israeli Innovation authority ▪ TIME ’ s 2023 list of best inven
Slide 7: Industry Updates
7 Nasdaq: BNRG Industry Updates Government grant and corporate funding are picking up
Slide 8: bGen Thermal Energy Storage
8 Nasdaq: BNRG bGen Heat battery based on crushed rocks enabling transition from fossil fuels to renewable energy THERMAL ENERGY STORAGE
Slide 9: bGen ZERO features
9 Nasdaq: BNRG Embedded Electrical heaters Power - to - Heat bGen ZERO 100 ƒ - 500 ƒ Steam Hot air 97 % Efficiency Modular 10 MWh - 1,000 MWh Unlimited Cycles 30 + years Low - Cost materials Simple O&M Nasdaq: BNRG
Slide 10: From Rocks to Thermal Energy Storage
10 Nasdaq: BNRG ▪ Rocks are crushed to small bits ▪ Thin metal cells ( “ bCells ” ) are filled with the crushed rocks ▪ bCells are stacked in to 12 meters modules ▪ Electrical heaters are embedded ▪ Modules are assembled on - site to a structure ▪ Structure is insulated and connected to plant From R
Slide 11: Production Plant: Ready to ramp up
11 Nasdaq: BNRG Production Plant: Ready to ramp up ▪ European Investment Bank credit facility funding capital expenditure for automated bGen factory and increasing production capacity ▪ Plant is designed to produce bGen modules with an annual capacity of up to 4,000 MWh ▪ Production capacity is to p
Slide 12: Global Energy Use By Sector
Source: REN 21 2022 % of global final energy use by sector, cooling and transport electricity reallocated Electricity - 17 % Transportation - 32 % Heating & Cooling - 51 % Heat for industry, homes and commercial buildings is the largest energy end - use Global Energy Use By Sector
Slide 13: Renewable Based Heat is Crucial for Net-zero Emissions
13 Nasdaq: BNRG 74 % Heat 30 % Natural Gas 45 % Coal 15 % Oil 9 % Renewables Renewable Based Heat is Crucial for Net - zero Emissions 26 % 74 % Electricity Heat Other , 13 % Industry , 32 % Transport , 31 % Residential , 24 % Global Final Energy Consumption Energy Sources for Industrial Heat Industr
Slide 14: TES potential in mid-temperature process heat
14 Nasdaq: BNRG Source: McKinsey & Company Global energy Perspective 2022 Global Industrial energy consumption by sector in Exajoules, 2019 BGEN OPERATION TEMPERATURES IN THE RANGE OF 100 ° - 500 ° C TES potential in mid - temperature process heat
Slide 15: Renewables + TES is now competitive
15 Nasdaq: BNRG Source: McKinsey & Company Global energy Perspective 2022 LEVELIZED COST OF HEAT FOR SELECTED TECHNOLOGIES, $/MWH Renewables + TES is now competitive
Slide 16: Illustrative Business Case Gas Boiler vs. PV+TES
16 Nasdaq: BNRG 200MW PV + 800MWh TES 80MW Gas boilers Technology $250m $10m Capex $5/MWh Maintenance $50/MWh Gas + Carbon tax + Maintenance Opex 400,000MWh per year X 5 $/MWh X 20 years + Initial Capex = $290,000,000 400,000MWh per year X 50* $/MWh X 20 years + Initial Capex = $410,000,000 Total ex
Slide 17: Business Model #1: Equipment Sale
17 Nasdaq: BNRG Sale of thermal energy storage solutions to industrial facilities and power plants ▪ Complete turn - key projects ▪ After sale services ▪ Warranty ▪ Maintenance ▪ Optimization BUSINESS MODEL # 1 Equipment Sale
Slide 18: Business Model #2: Energy-as-a-Service
18 Nasdaq: BNRG Seeking JVs with leading global clean energy utilities to provide clean steam and grid services Customer benefits: ▪ Reducing energy costs with no capital expenditures ▪ Reducing operational risk ▪ Green certificates and carbon emission savings BUSINESS MODEL # 2 Energy - as - a - se
Slide 19: Energy-as-a-Service Business Case Revenue Streams
19 Nasdaq: BNRG 49 % 12 % 39% ▪ Brenmiller to finance, build and maintain ▪ Revenue stream: ▪ Sale of steam ▪ Grid services, capacity payments ▪ Buying energy at day - ahead prices Energy - as - a - service BUSINESS CASE REVENUE STREAMS Capacity Steam Energy
Slide 20: Thermal Energy Storage For Power Plants
20 Nasdaq: BNRG GAS POWER PLANT COAL POWER PLANTS Converting retiring power plants to grid storage Flexible operation for changing grid 0 200 400 600 Electricity Output (MW) ▪ Energy shifting ▪ Fast ramp - up for spot market ▪ Additional revenue stacking from capacity payments, grid balancing and fr
Slide 21: Largest TES System in the World Connected to a Gas Power Plant
21 Nasdaq: BNRG Largest TES System in the World Connected to a Gas Power Plant ▪ Storage capacity of up to 24 MWh ▪ Enables shifting energy from off - peak hours to peak hours – improving revenues from energy sales ▪ The power plant will generate additional revenue streams by improved response times
Slide 22: Building the Pipeline – Focus on Europe and US
22 Nasdaq: BNRG Sales process / project development & opportunities Building the Pipeline – Focus on Europe and US
Slide 23: Commissioned Projects
23 Nasdaq: BNRG Biomass to Heat Storage System Continuous biomass combustion while delivering fluctuating output Commissioned Projects Thermal Storage Based Co - Generation Hybrid charging: Exhaust gas and electricity
Slide 24: Recently Signed Projects
24 Nasdaq: BNRG 12 MWh bGen Power - to - Heat TES Off - peak Grid Electricity to Saturated Steam 32 MWh bGen Power - to - Heat TES PV & Grid Electricity to Saturated Steam ▪ Tempo, partially owned by Heineken International B.V., is one of Israel ’ s largest producers and distributors of beverages fo
Slide 25: Thank You
BRENMILLER THERMAL ENERGY STORAGE Thank You
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